What is needed to become a good debt collector?

A debt collector is someone who collects money from the debtors and the debt collectors have come into being as many people have defaulted in their debt payments. There are many people who aspire to become a debt collector and take debt collection as their career option. But you must also know the educational qualification and the eligibility criteria you must have to become a debt collector.

Qualifications needed to become a debt collector

High school education is a must for becoming a debt collector. Although no other qualifications are needed for becoming debt collectors, some of the institutes do offer professional qualifications to people pursuing a career in credit control. The International Association of Professional Debt Arbitrators (IAPDA) and The Association of Settlement Companies (TASC) offer several industry tips and other educational advice which help people entering the collections jobs. Having good communication skill is what is needed in a good debt collector and you can also enter as a trainee or an intern. The other details you’ll get from the company once you join there. The company may give you a training session when you join as a debt collector. Apart from the communication skill, you must also have the ability to follow up on your work as well as understand the administrative details of the debt collection agency.

What to do as a debt collector

When you’re a debt collector, there are certain requirements from your side that needs to be fulfilled. Take a look at what must you do and have as a debt collector:

You must manage your emotional side well and try to be a good communicator when you call up the debtors for debt collection.
You must plan and practice your call before you call any debtor to collect debt. If you falter in your calls, you may not get that importance from the debtor.
You must make the opening statement and also have the last word.
Try to ask questions with conviction and ask precise questions.
The last statement that you make must be able to put a mark on the debtor. Speak with conviction and the last line must reiterate everything in your call.

What not to do as a debt collector

There are also certain limitations as a debt collector. You’re not supposed to do certain things which are not allowed by the FDCPA (Fair Debt Collections Practices Act). Check out which duties are prohibited by the FDCPA:

You must not call a debtor before 8 in the morning or after 8 at night.
If the company of the debtor doesn’t allow you to communicate with the debtor during office hours, you’re not supposed to do it.
You must not use abuses or threaten the debtor to collect debt.
You must also not hide the amount of debt the debtor owes the collection agency and also shouldn’t hide your identity from them.
You also must not harass the debtor’s relatives and neighbors to collect debt.

When you’re aspiring to become a debt collector, you must make sure that you know what it needs to become one. If you think you can become a good debt collector, you can go for interviews in debt collection companies or get trained for one before going for an interview.

This entry was posted in Debt Relief and tagged . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *